Overview of BIDs
Background
Why did Kingston need a Business Improvement District (BID)?
From 1985 to 2000 Kingston experienced phenomenal growth. Developments such as The Bentall Centre, new Bentalls and John Lewis departmental stores, and the pedestrianisation of Clarence Street helped to make it the second biggest centre for shopping, leisure and entertainment in the south-east, attracting over 18 million visitors every year.
But in 2000 the year-on-year growth stopped. Daytime visitor numbers declined, despite new developments such as Charter Quay, Sainsbury’s and The Rotunda. At the end of 2004, Kingston had fallen from 12th to 17th place in the Experian UK Town Centre superleague and had lost over 1 million daytime visitors since 1998.
Research showed that services did not meet the expectations of visitors, residents, staff and the business community. It was in response to this that a BID was proposed. Kingstonfirst worked in partnership with Kingston Council to produce a baseline agreement which undertakes to maintain or improve standards over the 5 year lifetime of the BID. Kingstonfirst would contribute additional cleansing, security and marketing initiatives making Kingston even more commercially successful and more attractive to visit.
The first BID will have generated almost £5million in ring-fenced funding over its 5 year life, through a 1% levy on every business’s Rateable Value plus additional voluntary contributions.
Kingstonfirst has also achieved an increase in footfall of more than 2 million additional customers a year, and has increased standards in cleansing and security.
BIDs
BIDs were first established in Canada and the US in the 1960s and now exist across the globe.
In 2002 the London Development Agency appointed Kingstonfirst as a pilot BID, in recognition of the strong business case made. We achieved a successful Yes Vote in December 2004- becoming the first BID in the UK. There are now over 80 BIDs around the country.
For more information on BIDs, please visit www.britishbids.info or, for London based BID information www.londonbids.info.